Carotenoids Market expected to grow USD 15 Billion by 2024

Cosmetic applications are predicted to collect a revenue of more than USD 25 million by 2024. The attributing factor toward the industry growth is surging requirement of natural and organic cosmetics products mainly across France, UK, Italy, Germany, and U.S. The product has anti-aging properties and is also used as a color additive in lip care products, which will propel carotenoids market share significantly. In 2015, Germany led Europe carotenoids industry by contributing a revenue of USD 20 million. Surging need of food coloring agents along with the growing food industry will augment the product demand considerably over the years ahead. In addition, Germany contributed a revenue of more than USD 4 million to beta-carotene product segment in 2015.Rising application scope in dietary supplements and food & beverages industry due to its benefits associated with immune system and cardiovascular health will stimulate global market size growth. Offering antioxidation in the body by deactivating free radicals is among the key trending factors fueling product penetration in consumer diet.

Carotenoids Market size is set to exceed USD 300 million by 2024; according to a new research report by Global Market Insights, Inc.

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Easy availability and comparatively less production cost makes the synthetic carotenoids market size a dominant industry segment. However, rising health consciousness pertaining to synthetic ingredients in food and personal care products will continue strengthening the drive for natural ingredients.

Animal feed applications accounted for over 30% of the global demand in 2015. Increasing palatability, high nutrient content, and animal sense organs enhancement has fueled product demand in this segment. Growing consumer demand for healthy appearance meat and standardized coloring in chicken, eggs, and salmons will foster industry growth.

Latin America, led by Argentina and Brazil carotenoid market will witness significant gains. LATAM accounted for over 4% of the global industry share in 2015. Income upliftment in middle class population, changing lifestyle, well-informed & more demanding consumers are driving products demand in Peru and Chile as well. Brazil is foreseen to be an attractive market in terms of raw material availability and strong supply chain network in the U.S.

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Beta-carotene market size generated over USD 40 million in sales for 2015, and the product is foreseen to witness 4% growth. Maintaining eye & skin health, curing cardiovascular disease with addition to the product in diet will fuel product demand.

Health risks pertaining to increase in creatine, lessening in vertical flight execution, and a skeletal muscle breakdown indicators are key factors driving industry towards more specific regulatory compliances and labelling guidelines. Natural carotenoids market size may see over 4% gains up to 2024. Germany, France, UK, and the U.S. are key contributing countries favouring bio ingredients industry expansion.

Germany beta carotene market size was over USD 4 million in 2015. Positive indicators from medical industry for curing macular degeneration, cataracts, and preventing heart diseases fueled beta carotene demand. Healthcare industry expansion along with rise in consumer affordability have positively influenced regional growth in this segment.

Asia Pacific market share will witness significant gains in cosmetics application increasing at 5% CAGR. Technological advancement, increasing application scope in nutraceuticals and cosmetics is driving overall regional demand.

Lycopene market was worth over USD 15 million in 2015. Strong application scope in pharmaceuticals and cosmetics owing to properties including preventing diabetes, age-related macular degeneration and protection from sunburn has enhanced product demand.

Middle East & Africa nutraceuticals market has witnessed notable growth. GCC countries dominates the industry, increase in the geriatric population will propelled the product demand for health supplements.

Global market is fragmented in nature and dominated by DSM and BASF holding about 50% of global capacity.

In terms of geographic presence other major companies include, Allied Biotech, Chr. Hansen, Brenntag, Carotech, Cyanotech, Divis Laboratories, Naturex SA, D.D. Williamson, and LycoRed.

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Data Tables

TABLE 1           Carotenoids industry 3600 synopsis, 2013 – 2024

TABLE 2           Global carotenoids market estimates and forecast, 2013 – 2024, (Tons) (USD Million)

TABLE 3           Global carotenoids market estimates by region, 2013 – 2024 (Tons)

TABLE 4           Global carotenoids market estimates by region, 2013 – 2024 (USD Million)

TABLE 5           Global carotenoids market estimates by source, 2013 – 2024 (Tons)

TABLE 6           Global carotenoids market estimates by product, 2013 – 2024 (USD Million)

TABLE 7           Global carotenoids market estimates by product, 2013 – 2024 (Tons)

TABLE 8           Global carotenoids market estimates by product, 2013 – 2024 (USD Million)

TABLE 9           Global carotenoids market estimates by application, 2013 – 2024 (Tons)

TABLE 10         Global carotenoids market estimates by application, 2013 – 2024 (USD Million)

TABLE 11         Carotenoids distribution channel analysis

TABLE 12         Carotenoids vendor matrix

TABLE 13         Global microbial carotenoids production patents registered

TABLE 14         Carotenoids growth drivers

TABLE 15         Carotenoids industry pitfalls & challenges

TABLE 16         Strategic landscape

TABLE 17         Synthetic carotenoids market estimates and forecast, 2013 – 2024, (Tons) (USD Million)

TABLE 18         Synthetic carotenoids market volume estimates & forecast by region, 2013– 2024, (Tons)

TABLE 19         Synthetic carotenoids market revenue estimates & forecast by region, 2013– 2024, (USD Million)

TABLE 20         Natural carotenoids market estimates and forecast, 2013 – 2024, (Tons) (USD Million)

TABLE 21         Natural carotenoids market volume estimates & forecast by region, 2013– 2024, (Tons)

TABLE 22         Natural carotenoids market revenue estimates & forecast by region, 2013– 2024, (USD Million)

TABLE 23         Lycopene market estimates and forecast, 2013 – 2024, (Tons) (USD Million)

TABLE 24         Lycopene carotenoids market volume estimates & forecast by region, 2013– 2024, (Tons)

TABLE 25         Lycopene market revenue estimates & forecast by region, 2013– 2024, (USD Million)

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